Bitcoin Surges Near All-Time High Amid US Crypto Bill Debate

Bitcoin has experienced a significant rally, nearing its all-time high of over $108,000 amid a confluence of factors including renewed inflation fears, U.S. congressional debates on cryptocurrency regulation, and a Moody’s downgrade of U.S. creditworthiness. The surge, marked by rapid price increases and elevated trading volumes on major exchanges, reflects growing institutional and retail interest as investors view Bitcoin as both a risk-on asset correlated with equities and a hedge against economic instability. The U.S. Senate is expected to discuss a landmark bill to regulate stablecoins, which could create the first formal regulatory framework for cryptocurrencies, although the bill faces opposition from some lawmakers over consumer protection concerns. JPMorgan analysts have shifted their outlook from gold to Bitcoin, predicting that Bitcoin may outperform gold for the rest of the year due to crypto-specific catalysts and increasing corporate demand. Meanwhile, Bitcoin's gains have coincided with geopolitical developments such as EU-US tariff talks and rising security concerns for crypto figures. Overall, Bitcoin's price dynamics underscore its evolving role as a key asset both in speculative trading and as a store of value amid financial market uncertainties.